OTP interested in acquiring another bank in Romania, Deputy CEO said
Hungary's OTP Bank is still interested in raising its share of the banking market in Romania in spite of the recent failure of talks to acquire banks in the country, the Romanian business newspapers Bursa and Capital reported on Friday, citing OTP Bank Deputy CEO László Wolf.
Wolf said that OTP Bank could resume talks aimed at acquiring a bank in Romania during the second half of this year, noting that OTP is interested in banks with low financing requirements and solvent clients.
Wolf said that OTP Bank would like to expand its operations in Romania because the country's economy is big and has major growth potential, and OTP still commands only a small share of its banking market.
The OTP Bank deputy CEO said that recent talks regarding the possible acquisition of the Romanian banks RBS and Banca Carpatica failed because the owners had "overvalued the selling price."
According to Bursa, Wolf's statements to the newspaper suggest that OTP Bank, which previously targeted major banks in Romania for acquisition, may now be satisfied with the purchase of a smaller bank in the country.
OTP Bank currently operates one unit in Romania, OTP Bank Romania.
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